How to Find Cheap Car Insurance In Canada

In Canada, all automobile owners are required to carry auto insurance by law. The rules and regulations concerning auto insurance vary from one province to another. While having auto insurance is mandated, that doesn’t mean that anyone wants to pay more than necessary. Most people want appropriate insurance coverage at the lowest rate possible.

Being properly insured doesn’t have to be overly expensive. With a little bit of diligence, you can find cheaper auto insurance. Use the following tips to help you find the cheapest car insurance available:

Take the time to read insurance company reviews.

Finding cheap car insurance in Canada will take a little bit of time and effort. A good place to start is by reading reviews for different auto insurance companies that offer car insurance policies. Reviews from current and past customers can give insight into how much insurance companies charge for their car insurance policies.

For example, reading the available Progressive insurance reviews will provide a lot of information. Many customers who leave reviews mention whether or not an insurance company offers affordable premiums.

Work with an insurance broker.

When you’re looking for cheap car insurance, working with an insurance broker is a smart choice. An insurance broker is not employed by a single insurance company. Instead, a broker has relationships with multiple insurance companies.

A good insurance broker will review car insurance policies from many different companies. He or she then helps you find the one with the best rates. You can count on an insurance broker to find you a car insurance policy that is affordable and provides adequate coverage.

A great thing about working with an insurance broker is that it won’t cost you a dime. An insurance broker is compensated by insurance companies when insurance policies are sold.

Don’t be afraid to ask about discounts.

Many car insurance companies offer a variety of discounts, but these may not automatically apply to a policy. When you’re shopping for cheap car insurance in Canada, don’t be afraid to ask about discounts you may be eligible for. Doing so can help you save a lot of money.

Discounts are often available for anyone who completes a driver training or education program. If you need to have a student on your insurance policy, having him or her complete the Young Drivers of Canada program can result in lower premiums.

Having safety devices installed in your vehicle may also make you eligible for an insurance discount. These devices include a factory-installed alarm and anti-lock brakes.

Bundle your policies with one insurance company.

Many people have other insurance policies besides just car insurance. If you have more than one insurance policy, you should seriously consider bundling all of your policies with one insurance company. Insurance companies often reward loyal customers with multiple policies with lower premiums.

If you’re shopping for cheap car insurance and also have homeowners insurance, renters insurance, life insurance, or any other type of insurance policy, use the same insurance company. In many cases, bundling insurance with one insurance company results in substantial savings.

Choose a higher deductible.

A deductible is the amount of money you’re responsible for paying out of pocket before your insurance begins paying anything.  The higher the deductible, the lower the insurance premiums. If you want cheaper car insurance, increasing your deductible is an easy way to save money.

If you have a low deductible, such as $100 or $200, you can expect to pay more in premiums. However, if you increase the deductible on your auto insurance policy to $1,000, you will see the cost of your policy drop. When you have a car insurance policy with a high deductible, make sure that you keep the deductible amount in a savings account. You want to make sure that you have the funds available if you need to make a claim.

Assess your car insurance needs.

When you want to buy a cheap car insurance policy, make sure to assess your car insurance needs first. It is not uncommon for people to overpay for car insurance because they buy more coverage than they actually need.

For example, if you drive an older vehicle with a low replacement value, it may not make sense to pay for comprehensive insurance coverage. Understanding how much insurance coverage you really need will prevent you from overpaying for a bloated policy.

Final Thoughts

It is definitely possible to buy cheap car insurance in Canada. You just need to make a bit of an effort. Always ask about discounts that may be available. Utilize the skills of an insurance broker to shop around for a policy and find the lowest prices. Increase your insurance deductible, and don’t pay for a policy that doesn’t have the coverage you don’t need. Taking several simple steps can result in saving a lot of money on car insurance.